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MARKET PROCESSES IN A RICARDIAN FRAMEWORK: THE CASE OF V.K. DMITRIEV
Author(s) -
Skourtos M.
Publication year - 1986
Publication title -
metroeconomica
Language(s) - English
Resource type - Journals
SCImago Journal Rank - 1.256
H-Index - 29
eISSN - 1467-999X
pISSN - 0026-1386
DOI - 10.1111/j.1467-999x.1986.tb00433.x
Subject(s) - economics , competition (biology) , reproduction , production (economics) , neoclassical economics , element (criminal law) , microeconomics , prices of production , law , ecology , political science , biology
. The paper examines the significance of V.K. Dmitriev's theory of coin petition for the understanding of the classical prices of production. We emphasize, that without such a comprehensive treatment of the notion of competition many aspects of the logic of the reproduction of the surplus producing capitalist economy remain vague and this may lead to a mere assimilation of the classical theories to « non‐substitution » like explanations. V.K. Dimitriev's theory of competition is built around the central concept of overcapacity, which functions as a potential competitive threat and demonstrates how a modified version of the classical notion of « center of gravitation » can be perceived, so as to incorporate this very distinguished element of modern industry. Dimitriev's ideas on the inherent possibility of crises are further discussed and we conclude with an assesment of his « Ricardianism ».